S&P Global Credit Markets Digest -- European Update.Business Editors NEW YORK--(BUSINESS WIRE)--June 20, 2003 Standard & Poor's-- EUROPEAN UPDATE: Here is the current lineup of top articles and research from Standard & Poor's: COMING UP: -- Cash Flow Analysis Gets Fresh Attention in Turbulent Market -- Spotlight on Greater China Corporate Financial Disclosure -- The Two Faces of China Banking -- Implicit Government Support Built into China Bank Ratings -- Recapitalization a Precondition for Higher China Bank Ratings -- Bank Industry Risk Analysis: China UPCOMING TELECONFERENCES: -- U.S. Higher Education Roundup and Outlook, Wed., June 25, 2 PM -- Forest Products Credit Quality; Wed., July 9, 10 AM -- North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Building Materials, Homebuilder, and Home Center Retail Credit Quality; Tues., July 29, 10 AM All times U.S. Eastern. For complete details see ratingsdirect.com or standardandpoors.com PUBLISHED: RESEARCH REPORTS CORPORATES -- Report on North American Natural Gas Is Published -- Regulated Electric Operations Back in Fashion -- CenterPoint Energy Improves Liquidity, Looks to Texas Genco Sale and Securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. -- U.S. Containerboard Industry Price Reporting Change Likely to Hurt Languishing lan·guish intr.v. lan·guished, lan·guish·ing, lan·guish·es 1. To be or become weak or feeble; lose strength or vigor. 2. Prices -- Banks Face Strategic Challenges -- Industry Report Card: U.S. Gaming & Lodging -- Comparison Report: U.S. Home Furnishings Retailers FINANCIAL SERVICES -- Swiss Banking System's Strengths Underpin Health of the Sector -- The Brazilian Insurance Market: A Brief Update LOCAL & REGIONAL GOVERNMENTS -- Financial Autonomy Is Key to Italian Regions Maintaining Higher Ratings Than the Sovereign RATING ACTIONS: CORPORATE RATINGS -- Motorola Inc. Outlook Revised to Negative; New 'BBB+' Bank Loan Rating Assigned -- Pioneer Natural Resources Rating Affirmed, Outlook Revised to Positive -- Energy East and Units Ratings Affirmed; Outlook Still Negative -- Best Buy Co. Inc. Outlook Revised to Stable; 'BBB-' Corporate Credit Rating Affirmed -- Tembec Inc.'s Ratings Lowered to 'BB' on Depressed Profitability, Cashflow; Outlook Stable -- Bell Canada C$3 Billion MTN MTN A short-form for Medium Term Note. MTN Medium term notes issued by corporations, much like shorter-term commercial paper. MTN See medium-term note (MTN). Rated 'A', Other Ratings Affirmed; Outlook Stable -- Micron Technology Inc. Outlook Revised to Negative, on Price Pressure; Ratings Affirmed -- Playtex Products Inc. Ratings Lowered, Still on CreditWatch Developing -- Eastman Kodak Co. on Watch Negative After Announcing Lower 2Q Operating Income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. Possible FINANCIAL SERVICES RATINGS -- Korea's Chohung, Shinhan Banks Still on Watch as Government Confirms Sale PUBLIC FINANCE RATINGS -- Buffalo, N.Y.'s GO Bond Rating Lowered to 'BBB-' from 'BBB'; Placed on CreditWatch Developing SOVEREIGN RATINGS -- Republic of Iceland 'A+/A-1+' Foreign Currency Ratings Affirmed; Outlook Stable INFRASTRUCTURE RATINGS -- LT Ratings on Severn Trent PLC and Severn Trent Water Ltd. Put on Watch Neg; 'A-1' ST Ratings Affirmed STRUCTURED FINANCE RATINGS -- JLOC JLOC Joint Logistics Operations Center (US DoD) JLOC Joint Logistics Operations Centre (DPKO) VII Ltd.'s JPY JPY In currencies, this is the abbreviation for the Japanese Yen. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 20.1 Billion Japanese CMBS CMBS See: Commercial Mortgage Backed Securities Assigned Preliminary Ratings RESEARCH ANALYSIS: CORPORATES: -- Korea Highway Corp. -- Schering-Plough Corp. -- NOVA Gas Transmission Ltd. FINANCIAL SERVICES -- Credit Foncier et Communal d' Alsace et de Lorraine PUBLIC FINANCE -- Buffalo, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of STRUCTURED FINANCE -- CDO (Collaborative Data Objects) A programming interface from Microsoft for accessing MAPI-based e-mail, calendaring and scheduling servers. Originally called "OLE Messaging" and "Active Messaging," CDO wraps the Enhanced MAPI library into a COM object that provides the Manager Focus Report Released on AIB AIB n abbr (BRIT) (= Accident Investigation Bureau) → oficina de investigación de accidentes AIB n abbr (Brit) (= Accident Investigation Bureau) → Capital Markets PLC Copyright (c) 2003, Standard & Poor's Ratings Services |
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